Best Junior Cash Isa 2015

Parents who are concerned about tax or simply want a savings vehicle their children cannot dip in and out of could do worse than a Junior Isa. These have a maximum annual contribution of £4,000 and, while children can take control of the account when they're 16, they can't withdraw the money until they turn 18.

Our winner this year is Coventry Building Society's Junior Cash Isa, which has a minimum deposit of just £1. "This account was launched on 5 April 2012 and since then has paid a straightforward rate of 3.25% – no bonus, no complications, just consistency," states Bowes.

Our runner-up is the Nationwide Smart Junior Isa, which pays 3.25% gross with a minimum deposit of £1.

Bowes says it is a simple, straightforward competitive account. "Nationwide removed the bonus from this account back in February 2014 and added a rate guaranteed not to fall below 1.15% until 31 Janaury 2015.

"Let's hope the guarantee is extended this year, so savers can be sure the rate won't plummet like many other savings accounts have done in recent years."

Best Junior Cash Isa 2015

Winner: Coventry Building Society Junior Cash Isa
Current rate: 3.25%
Minimum deposit: £1
Contact: 0845 766 5522
Highly commended: Nationwide Smart Junior Isa

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